Pallet maker RM2 to float on Aim

Pallet manufacturer RM2 yesterday said it plans to launch an initial public offering on Aim, which will raise £137.2m to finance the expansion of its production capacity. The company expects to start trading on 6 January 2014 with an initial market capitalisation of £278.3m and is the largest float on Aim in a year. RM2 designs, makes and supplies pallets that are used in the supply chain of sectors, such as packaging. Cenkos Securities is adviser and broker.